XAUUSD: After a New High, a Support Retest is Needed
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Following a recent pullback, gold is now in the midst of a rebound, riding the momentum of its newly achieved all-time high. However, the difficulty of sustaining further upside increases at this stage. Therefore, it presents a strategic opportunity to establish short positions in the 2680-2690 range, anticipating a fresh support retest.
If the price holds above 2668 during this pullback, it could signal another buying opportunity, allowing traders to re-enter long positions with confidence.
Following a recent pullback, gold is now in the midst of a rebound, riding the momentum of its newly achieved all-time high. However, the difficulty of sustaining further upside increases at this stage. Therefore, it presents a strategic opportunity to establish short positions in the 2680-2690 range, anticipating a fresh support retest.
If the price holds above 2668 during this pullback, it could signal another buying opportunity, allowing traders to re-enter long positions with confidence.
Trade ativo
It clearly stated to buy if the 2668 support level held, and now the market has already gone up! This is the power of precise analysis. If you don't want to miss out on more opportunities like this, feel free to join our discussions and get access to more actionable trading strategies!Trade ativo
As of now, the 2668 support remains strong, and profits from the long trades are already showing. This is another successful case of our precise analysis and strategy. If you want to capture more opportunities like this, don’t hesitate—join our discussions to receive real-time trading signals and strategies. The next profit opportunity is just around the corner!Trade ativo
Gold hasn't broken below the support level around 2668, and the price continues to rise steadily, reaching around 2690, with signs of testing the 2700 level.
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